ERP systems are not just for big companies
In fact, they can be very beneficial for small and medium sized businesses who want to automate processes, eliminate inefficiencies, scale for growth on a modern unified platform.
What size is the right size of business for an ERP solution?
Small businesses have different software needs than large enterprises. Accounting applications like MYOB, Xero, and QuickBooks are sufficient for many small businesses’ needs. Likewise, Tier 3 ERP solutions like Oodo and Zoho can also work well for small businesses. ERP is usually not necessary for smaller organisations because they lack the business process complexity or employee size that would require such a solution.
As your business grows, you’ll start to face more complex challenges in managing customers, suppliers, projects, and inventory. That’s when it makes sense to look into enterprise resource planning (ERP) software. ERP systems are designed to help mid-size organisations ($10M and above in revenue) streamline their processes and become more efficient.
Let’s look at some facts, according to the Aberdeen Group:
- 65% of SME businesses use ERPs to manage their operations.
- 77% SMEs choose ERP systems over standalone platforms to help standardise back-office operations, minimise overall operational expenses and provide real time visibility into various data and insights.
- Growing enterprises prefer ERP over individual solutions because of the need for a better collaboration tool (37%), scalable solution (29%), and replace old technology (24%).
As your business expands and you begin to specialise in certain areas, it makes sense to get an ERP system. This will help you keep track of your sales team, administration, finances, purchasing, and supply chain. With so many moving parts to your business, an ERP system will help you keep everything organised and running smoothly.
A well-run business has a clear understanding of its financial information, inventory count, and potential sales. This allows the company to make sound decisions on a day-to-day basis. However, sometimes this information can be hard to obtain or keep track of. In these cases, it may be beneficial to look into enterprise resource planning (ERP) software.
How ERPs facilitate business growth
ERPs (enterprise resource planning systems) are beneficial for businesses because they can help with project management, cost reduction, and efficiency.
- Increased job accuracy and on-time delivery
- Reduced inventory costs
- Eliminated purchasing errors
- Improved production efficiency
- Lower operational costs
- Enhanced project, cost and budget management
- Greater financial control through budgeting and forecasting
- Insightful analytics
There is no denying that running a business can be hectic and overwhelming at times. With so much going on, it can be difficult to keep track of everything and ensure that everything is running smoothly. This is where technology comes in handy. By automating some of your processes, you can free up time for your staff to focus on other tasks.
Ask yourself … who in your staff has the time to manually manage multiple spreadsheets and separate mountains of data?
One size ERP doesn’t fit all
An ERP system can help to automate and streamline key business processes such as order processing, production and finance. This can free up staff time to focus on more important tasks than data entry. In fact, there are many benefits that your business can gain from having an ERP system.
When it comes to enterprise resource planning (ERP) software, there is no one-size-fits-all answer. The complexity of your business and the processes you have in place will dictate which ERP solution is right for you.
Are you ready to save time and solve the most complex challenges in your business?
NetSuite is a full, cloud-based enterprise resource planning (ERP) suite that gives organisations what they need to run efficiently and accelerate seamless scalable growth. Supporting +40,000 customers in 219 countries and territories worldwide, NetSuite has everything you need to grow, in one place, on a single cloud platform.
If you are considering an ERP solution, take a look at what we do, how we got here, and how NetSuite works. Our FlexSafe ERP methodology ensures that every NetSuite implementation is meticulously executed that is transparent, collaborative and increases user adoption by reducing change resistance. We have a proven track record of process expertise, and providing scalable cloud solutions.
Our award-winning team helps you get the most value from NetSuite, so you can focus on what really matters – your customers, your people and your business.
If you are ready, schedule a demo using our calendar, or call us on 1800 155 683.
